Author: The Daily Hodl

A widely followed crypto analyst says that one classic indicator could dictate Bitcoin’s (BTC) next price move. In a new video update, crypto strategist Benjamin Cowen tells his 803,000 YouTube subscribers that the crypto king’s relative strength index (RSI) – a momentum oscillator used to analyze whether an asset is overbought or oversold – is giving “uncomfortable” vibes. Looking at two-week candles, Cowen notes that every single one of Bitcoin’s price tops coincided with the RSI hitting the same downward resistance level – something that has already happened in March. “We can also look at this on a two-week time…

The Ethereum Foundation (EF) is unveiling a month-long initiative aimed at improving the security of the second-largest blockchain by market capitalization. According to the Ethereum Protocol Security (EPS) Research Team, the blockchain-focused bug bounty platform Immunefi will host an Ethereum (ETH) protocol “Attackathon” over a four-week period. An Attackathon is a challenge aimed at auditing the security robustness of a platform by identifying and understanding potential vulnerabilities in the protocol’s code. Explains the EPS Research Team, “This four-week event aims to enhance the security of the Ethereum protocol through a large-scale crowdsourced security audit competition. Our goal is to raise…

Pomp Investments founder and long-time Bitcoin bull Anthony Pompliano, is predicting that Bitcoin (BTC) will start breaking out once the summer concludes. In a new interview on CNBC Squawk Box, Pompliano says that based on historical precedent, Bitcoin will likely enter an uptrend as soon as September once market participants become more engaged. “The only thing we need as a catalyst for Bitcoin is time. One of these interesting things about if you go and look through all these different cycles, the summer’s just slow. People are doing stuff. People are traveling. You know, they’re not sitting in front of…

The Republican National Committee has released a new party platform that promises to support crypto and oppose the creation of a central bank digital currency (CBDC). The platform, which former president Donald Trump promoted on social media, claims Republicans will “pave the way for future economic greatness by leading the world in emerging industries.” “Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency. We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance…

Macro trader and economist Alex Krüger isn’t concerned about the Bitcoin (BTC) sell pressure from Mt. Gox and the German government. The German government was first spotted moving Bitcoin to exchanges last month after their authorities seized 50,000 BTC as part of an investigation into Movie2k.to, a now-defunct illegal streaming site that was accused of distributing more than 880,000 pirated films between 2008 and 2013. After holding that 50,000 BTC until June 19th, the German government now only owns 23,964 BTC at time of writing, according to the digital asset de-anonymizing platform Arkham. Krüger, however, says the market is entering the…

A widely followed crypto strategist believes that the leading altcoin Ethereum (ETH) is close to carving a mid-cycle bottom. In a new video update, pseudonymous analyst Bluntz tells his 264,400 followers on the social media platform X that Ethereum is about to conclude its ABC corrective wave. Bluntz practices the Elliott Wave theory, which states that a consolidating asset tends to witness an ABC correction before igniting a fresh five-wave surge. “Looking at ETH/USD, we’re basically down here at the lows again, but I think it would be very odd if we just moved up from here… I think ultimately…

A prominent analytics firm says Bitcoin (BTC) is about to give off a reading that previously signaled the start of a big rally for the crypto king. Santiment says on the social media platform X that it is keeping a close watch on Bitcoin’s 30-day and 365-day Market Value to Realized Value (MVRV). The MVRV is the ratio of a crypto asset’s market capitalization relative to its realized capitalization or the value of all the coins at the price they were bought. When the MVRV value drops below zero, it indicates that the asset is oversold as traders who bought…

SkyBridge Capital founder Anthony Scaramucci believes that Bitcoin (BTC) will print massive all-time highs (ATHs) in less than six months. In a new CNBC interview, Scaramucci says that Bitcoin could soon break out to six figures following its steep correction into the $50,000 range. Scaramucci predicts Bitcoin’s current correction is only temporary due to such factors as the defunct crypto exchange Mt. Gox settling with creditors and the German government selling coins. “We still love the fundamentals of Bitcoin long-term. And I do think, as I said, it’ll be $170,000 post-halving, but I think you can get to $100,000 by…

A closely followed on-chain analyst says crypto whales are heavily loading up on an altcoin running on the Ethereum (ETH) network. Ali Martinez tells his 66,900 followers on the social media platform X that deep-pocketed investors accumulated tens of millions of dollars worth of the decentralized oracle Chainlink (LINK) in just seven days. “Chainlink whales have snapped up over 6.2 million LINK this past week, totaling approximately $76.88 million!”  Last week, Martinez warned that Chainlink appears to have broken down from a head-and-shoulders reversal pattern after it took out support at $12. Traders keep a close watch on charts flashing…

A widely followed crypto analyst thinks Bitcoin (BTC) could be on the verge of stabilizing after a sizeable correction. Pseudonymous crypto trader Rekt Capital tells his 482,500 followers on the social media platform X that BTC is showing positive signs of life after its most recent drop. “Bitcoin is showcasing some initial signs of stability after the crash And in doing so, it is creeping closer to the Downtrend (light blue) This Downtrend will be challenged if the Bullish Divergence plays out.” According to the analyst, BTC’s price breakdown is now showing signs that it’s finding support near the $57,000…